03.01.2019 Ankara
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President Rifat Hisarcıklıoğlu, in his speech at the working dinner organized by the TOBB and Pakistan Embassy in Ankara, “The trade volume between Turkey and Pakistan, while having such close relations in a myriad of fields, is insufficient. Our bilateral trade, which is just over half a billion dollars, is not fitting for two sister countries.”
Attending
the dinner hosted by TOBB President M. Rifat Hisarcıklıoğlu wherein trade and
investment relations between Turkey and Pakistan were discussed were Prime
Minister of Pakistan Imran Khan, Trade Minister Ruhsar Pekcan, Pakistani
Foreign Minister Makhdoom Shah Mehmood Qureshi, Pakistan Planning Minister
Makhdoom Khusro Bakhtyar and Pakistani Prime Minister Private Consultant Syed
Zulfiqar Abbas Bukhari.
TOBB
President Hisarcıklıoğlu stated that they are aware of the success of Prime
Minister Khan in in sports, academic life and social responsibility projects as
well as politics. “The people of Pakistan have displayed their acumen in
electing a well-rounded politician in the beloved prime minister. I
congratulate my Pakistani brothers on this matter.”
Thanking
Prime Minister Khan for the support given to Turkey’s fight against the
terrorist organization FETÖ, Hisarcıklıoğlu said, “We have also always supported
Pakistan as TOBB. In 2010, we mobilized the Turkish business world for the
flood disaster in Pakistan. We were with our Pakistani brothers. We have
campaigned all over the country and sent 4.7 million USD of aid to our
Pakistani brothers and sisters.”
Stating
that the trade volume between Turkey and Pakistan, while having such close
relations in a myriad of fields, is insufficient, Hisarcıklıoğlu said, “Our
bilateral trade, which is just over half a billion dollars, is not fitting for
two sister countries. Similarly, our mutual investments are not at the level we
want. Turkey's total direct investments in Pakistan is 1 billion USD while
Pakistan's direct investment in Turkey is around 600 million USD. Our
contracting companies have undertaken important projects in Pakistan as they
have done throughout the world. A total of 59 projects have been successfully
completed to date. We have established Turkey-Pakistan Chamber of Commerce
Forum as a part of our cooperation. The problems experienced by our companies
are discussed here, after which we relay proposals to our governments in Turkey
and Pakistan. We are deeply troubled by protectionist policies in trade. We
think that protectionism will impoverish our people.”
Referring
to the problem regarding visas, the TOBB President said, “We are friends,
brothers. Should brothers visit each other's house only through permission?
Visa application is a serious obstacle to trade. At least we have to save the
business world from this visa problem. Support us. Give the Turkish business
world the opportunity. Let's invest more. Let's engage in more mutual trade.”
Hisarcıklıoğlu
stated that Turkey is one of Europe's most important suppliers for home
appliances, construction material, cement, and spare parts in the automotive, shipbuilding
industry.
Indicating
that industrial products comprise over 90% of Turkey's exports, Hisarcıklıoğlu
said, "Half of these are marketed to regions of high competition such as
Europe and the US. In tourism, we are achieving success in overseas contracting
worldwide. 40 years ago in tourism, our name was unheard of; with investments
and vision of our private sector, we have entered the top 10 destinations in
the world today. There are 46 Turkish contracting firms in the World's Top 250
International Contractors. With this number, we are on ranked higher than the
United States. We are ready to share our experience with our brothers.
Especially in the infrastructure investments in Pakistan-China economic
corridor, we would like to get more share as Turkish contractors.”
Hisarcıklıoğlu
provided information regarding the work and structure of the Union of Chambers
and Commodity Exchanges Turkey during his speech.
- Pakistan's Prime Minister Imran
Khan
Prime
Minister of Pakistan Imran Khan stated that he is attending the program with
many ministers accompanying him including Pakistani Foreign Minister Makhdoom
Shah Mehmood Qureshi and Planning Minister Makhdoom Khusro Bakhtyar, “I brought
my team with me because the time has come to increase trade volume of Pakistan
and Turkey.”
Stating
that the desired bilateral trade levels between the two countries have not been
achieved due to various reasons, Khan said that one of the reasons is the
distance between Turkey and Pakistan.
Khan,
pointing to the length of the distance in terms of maritime route, “I think
this problem will be solved in the coming years because there is a very
important development underway in Pakistan. This is the Chinese Belt Road
initiative.” Khan stated that they intended to form links where their country
did not have any before.
Underlining
that his country is a virgin region, Khan said, “Pakistan has great potential
in many areas and this potential has not yet been fully utilized.”
- Minister of Trade Ruhsar Pekcan
Trade
Minister Ruhsar Pekcan said that the trade volume between Turkey and Pakistan
remains inadequate for two friendly and brotherly countries and that they are
striving to advance economic and trade relations.
Expressing
that significant investments to Pakistan from Turkey are underway, Pekcan said,
“Our companies employ 6,506 people in Pakistan. I firmly believe that our companies’
investment in Pakistan will grow further in the future and deepening our
bilateral economic relations. At this point our companies’ high interest in
Pakistan will continue in the near future and will increase the level of
economic partnership between our countries.”
Pekcan
reporting that Turkish contractors have undertaken 9,600 completed and
undergoing projects in 123 countries with a total of worth 378.9 billion USD
and said:
“Our
contractors are also taking on significant projects in Pakistan. We have 62
projects in your country, mostly in the energy, infrastructure, construction
and consultancy sectors. Road projects are leading in these large-scale
projects.”